ImmunityBio (NASDAQ:IBRX) Shares Up 4.1% – Time to Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) shares shot up 4.1% during mid-day trading on Thursday . The company traded as high as $3.38 and last traded at $3.28. 1,862,351 shares were traded during mid-day trading, a decline of 62% from the average session volume of 4,963,380 shares. The stock had previously closed at $3.15.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBRX. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Thursday, November 21st. Piper Sandler reduced their target price on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Finally, EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd.

ImmunityBio Stock Performance

The stock has a 50-day moving average of $4.56 and a 200 day moving average of $4.87. The firm has a market capitalization of $2.00 billion, a P/E ratio of -3.12 and a beta of 0.86.

Institutional Trading of ImmunityBio

Large investors have recently made changes to their positions in the business. Captrust Financial Advisors acquired a new position in ImmunityBio during the 3rd quarter worth about $41,000. Virtu Financial LLC acquired a new position in shares of ImmunityBio during the third quarter worth approximately $51,000. Algert Global LLC acquired a new position in shares of ImmunityBio during the second quarter worth approximately $86,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ImmunityBio by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after purchasing an additional 4,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of ImmunityBio in the second quarter valued at approximately $105,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.